Heterogeneity analysis.

Based on the data of 278 prefecture-level city panels in China from 2008 to 2020, this paper presents the policy of innovative pilot city as a quasi-natural experiment. It is found that (1) the implementation of innovative urban policy can significantly improve the level of science and technology entrepreneurship, but the pilot policy has a time lag effect and has a continuous promoting effect since the third year. (2) For large cities, areas with high levels of economic development, central and eastern regions and cities with high new infrastructure, innovative cities can improve the level of technological entrepreneurship; (3) Innovative cities improve the level of technological entrepreneurship by improving the incubator of technological enterprises and strengthening the flow of human capital; (4) The effect of the establishment of innovative cities on the level of technological entrepreneurship mainly shows that the siphon effect does not show radiation effect, and this siphon effect mainly improves the level of technological entrepreneurship by increasing the number of incubators of technological enterprises.